Cattle prices slide yet again

FINISHED cattle prices are on the slide again this week as average prices fell another 3.58p/kg at markets in England and Wales.

Heavy steers took the heaviest drop, falling 3.08p to 78.48p/kg. Light steers also suffered, falling a further 2.58p to 75.10p/kg. Medium steers eased slightly at 78.01p/kg.

The total throughput of heifers slumped 17% at markets on Monday, with overall prices down by 3.21p. Heavy heifers took the heaviest price fall dropping 3.95p to 78.91p/kg. Light and medium bulls have both suffered heavy falls, plummeting 5.37p and 7.71p/kg respectively, although throughput was up by 8%.

“The cattle trade has been almost dropping 3p/week for the past four weeks,” said a spokesman from Stamford market, Lincolnshire. “The cattle need to be good quality in order to achieve a reasonable price.”

Auctioneer Morris Maurice of J H Palmer and Sons reported similar prices to last week at Highbridge market, Somerset. Top prices were 93.5 p/kg for Angus-cross steers and all 250 cattle sent to market were sold.

“Meaty cattle held their prices well,” said Mr Maurice. “It was the unfinished steers close to 30 months and heifers with no paperwork that were difficult to sell. Sales verged on cull prices at 58-65p/kg, bringing down the overall averages. It is difficult to understand why farmers bring cattle like these to market.”

Duncan Sinclair of the MLC blamed these further falls on the meat market being well supplied, while although the Russian crisis may indirectly have an effect on cattle prices this could not be a major factor. Mr Sinclair predicted that prices would remain under pressure until nearer Christmas.